◆Indian workers' real wages grow six times faster under UPA: Montek Singh Ahluwalia
【NEW DELHI】Indian workers' real wages grew six times faster under the UPA, compared to the period before it, said Montek Singh Ahluwalia, Planning Commission deputy chairperson and a close aide of Prime Minister Manmohan Singh who chairs the above commission.
"Everyone compares the UPA tenure with the pre-UPA period. In pre-UPA, there was a huge growth of employment, which collapsed under UPA. Thats true...but the unemployment rate was higher before UPA and went down under UPA," Ahluwalia said, stressing that it would be better to ascertain if employment is leading to a better wage income.
"The real wages grew six times faster under the UPA than in the pre-UPA period. Its not enough to say employment grew, we should be clear what we want to see in employment," the Plan panel deputy chief said, adding the available data on employment is very questionable so there is a lot of confusion about what's really happening in the labour market.
The farm sector has grown faster with a rise in real wages and rural consumption growth rates. Though urban consumption grew faster than rural consumption, the gap between the two narrowed down in UPA's decade-long innings.
○Poor talent management costs India Inc Rs 2,330 cr annually
【Mumbai】Poor talent management is resulting in businesses wasting about Rs 2,330 crore on recruitment costs, according to a joint survey by LinkedIn and PwC.
The survey, Adapt to Survive, has been done across 11 markets, including India. It reveals that the inability of people to upgrade for new skills or switch industries would be costing as much as $150 billion globally. In India it is about Rs 53,300 crore.
Indian workers' real wages grow six times faster under UPA: Montek Singh Ahluwalia
Poor talent management costs India Inc ₹2,330 cr annually